Mixed Economic News this Morning

We had some key economic reports this morning.

The government said that consumer spending rose 0.1% in June. They also revised the number for May up to 0.2%. Personal income in June was unchanged. Here’s how the two series have grown over the last 20 years.

The ISM Manufacturing index for July was 56.3. That’s a pretty good number. Any number above 50 means the factor sector is expanding.

The weak spot this morning was that construction spending fell 1.3% in June. Wall Street had been expecting growth of 0.4%.

The big report this week will be Friday’s July jobs report. What’s interesting is that long-term bond yields have gradually worked their way lower all year.

Posted by on August 1st, 2017 at 11:40 am


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